Turkey’s Export Growth Hits Record High in July 2024
Turkey’s Vice President Cevdet Yılmaz announced that the country’s exports continue to grow, driven by economic improvements and increased predictability. According to data from the Turkish Statistical Institute (TÜİK), exports in July 2024 reached an all-time high for that month, rising by 13.8% from the same period last year to $22.5 billion. Meanwhile, imports fell by 7.8% year-on-year to $29.8 billion during the same period.
Yılmaz also highlighted that the annualized export value rose to $261.5 billion, while the trade deficit decreased to $82.4 billion. He emphasized that access to foreign exchange has become easier and the cost of external financing has decreased, amidst a reduction in current account deficits and other economic risks.
Reaffirming the government’s commitment to export-oriented sustainable growth amidst a stable and secure economic environment, Yılmaz stated that they will continue to strengthen the economy through employment-friendly policies.
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